Codexis (CDXS) to Post Q2 2018 Earnings of ($0.09) Per Share, Jefferies Group Forecasts

Codexis (NASDAQ:CDXS) – Investment analysts at Jefferies Group boosted their Q2 2018 EPS estimates for shares of Codexis in a research note issued on Monday, April 16th. Jefferies Group analyst B. Couillard now expects that the biotechnology company will earn ($0.09) per share for the quarter, up from their previous forecast of ($0.10). Jefferies Group also issued estimates for Codexis’ FY2018 earnings at ($0.20) EPS.

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A number of other brokerages have also recently commented on CDXS. Zacks Investment Research cut Codexis from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. HC Wainwright set a $12.00 price objective on Codexis and gave the company a “buy” rating in a research report on Monday, March 12th. BidaskClub upgraded Codexis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 3rd. Finally, ValuEngine upgraded Codexis from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. Codexis currently has a consensus rating of “Buy” and a consensus price target of $9.75.

Shares of CDXS stock opened at $11.35 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.80 and a quick ratio of 1.76. The stock has a market capitalization of $584.72, a PE ratio of -22.70 and a beta of -1.73. Codexis has a one year low of $3.95 and a one year high of $13.60.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Thursday, March 8th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $21.70 million during the quarter, compared to the consensus estimate of $22.97 million. Codexis had a negative net margin of 45.97% and a negative return on equity of 103.42%. The business’s revenue was up 117.0% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share.

Several institutional investors have recently made changes to their positions in CDXS. Telemark Asset Management LLC raised its stake in shares of Codexis by 58.5% during the 4th quarter. Telemark Asset Management LLC now owns 3,250,000 shares of the biotechnology company’s stock worth $27,138,000 after purchasing an additional 1,200,000 shares in the last quarter. Wells Fargo & Company MN raised its stake in Codexis by 156.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,002,086 shares of the biotechnology company’s stock valued at $8,367,000 after acquiring an additional 611,289 shares during the period. Royce & Associates LP bought a new stake in Codexis in the 3rd quarter valued at $1,089,000. EAM Investors LLC bought a new stake in Codexis in the 4th quarter valued at $729,000. Finally, Prescott Group Capital Management L.L.C. raised its stake in Codexis by 4.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 2,133,568 shares of the biotechnology company’s stock valued at $17,815,000 after acquiring an additional 86,356 shares during the period. Institutional investors own 65.84% of the company’s stock.

In other news, Director Thomas R. Baruch sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $11.05, for a total transaction of $276,250.00. Following the sale, the director now owns 184,670 shares in the company, valued at approximately $2,040,603.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David V. Smith sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $10.37, for a total value of $62,220.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,337 shares of company stock worth $1,187,683. Company insiders own 9.80% of the company’s stock.

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About Codexis

Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.

Earnings History and Estimates for Codexis (NASDAQ:CDXS)

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